Despite the pressure BP (NYSE:BP) is feeling financially, they are saying there will be no more newly issued shares. Although they have been making overtures to several oil investors in different countries where there is good relations. In an attempt to entice them to purchase shares.
Shokri Ghanem, chairman of Libya's national oil company told Dow Jones, "BP is interesting now with the price lower by half and I still have trust in BP, I will recommend it to the Libyan Investment Authority." On Monday, a top Libya oil official said his country should take advantage of the oil company's falling share prices.
BP insists they are not trying to bring in specific investors with new equity. BP shares have lost over half their market value since the Gulf oil spill began in April. Today they saw an increase of 3.5 percent to 333.3p in London.
The Gulf of Mexico holds some of the world's largest sovereign wealth funds. They've previously put capital into into Western banks including Barclays and Citigroup. BP has an extensive history
with the UAE, home to numerous government controlled funds that invest specifically in energy assets.
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